Key Points
New Delhi [India], October 1 (ANI): REC Limited, a Maharatna CPSU under the Ministry of Power, has signed an MoU with the Rajasthan government to provide Rs 3 lakh crore in funding for infrastructure projects in the state, according to a statement from the company...
As per the MoU, REC will provide Rs 50,000 crores annually (an increase from Rs 20,000 crore) to finance projects across power and non-power infrastructure for a period of six years up to 2030...
The states infrastructure sector projects, including those pertaining to power, metros, roads, highways, airports, IT, steel, oil refinery, ports, and waterways, fibre optics, telecom, health, tourism, and other infrastructural projects, are anticipated to rapidly increase as a result of this Memorandum of Understanding...
REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects, etc...
More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institutions, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc...
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